SpaceX and OpenAI IPOs to exclude investors from mainland China and Hong Kong

中国投资者被SpaceX IPO拒之门外

SpaceX goes public this week, but five sources say mainland Chinese and Hong Kong investors are barred from the IPO. OpenAI is likely to impose the same restriction when it lists later this year, after already blocking Chinese investors from private rounds. Neither company has publicly explained the move. Both count the US government as a major customer—SpaceX brought in about $4 billion from it last year, and OpenAI announced it will supply AI tech to the Pentagon's classified systems. A former White House tech policy official called the decision voluntary and said Anthropic and others may follow. Last month, Cerebras still allowed Chinese investors into its IPO; this marks an acceleration of US-China tech and capital decoupling.

Why it matters: NYT exclusive with named sources, disclosing SpaceX IPO's exclusion of mainland China and Hong Kong investors, and flagging OpenAI likely to follow. Backed by concrete figures ($4B gov revenue, classified DoD work) rather than speculation. Score held at lower featured band bec...